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Tribhovandas Bhimji Zaveri allots 2.5 million shares to anchor investors

24 Apr 2012 Evaluate

Jewellery retailer, Tribhovandas Bhimji Zaveri (TBZ) on April 23, i.e. one day before of the issue opening, allotted nearly 2.5 million shares to anchor investors, including HSBC Global Investment Funds, HSBC India Alpha (Mauritius) and Credit Suisse (Singapore) at lower end of price band of Rs 120-126 a share.

The initial public issue of Jewellery retailer opens on auspicious gold buying festival, Akshaya Tritiya and will close on April 26, 2012. IDFC Capital and Avendus Capital are the lead managers of the issue.

Anchor investors belong to the Qualified Institutional Buyers (QIBs) category, which include mutual funds, foreign institutional investors, banks, and venture capital funds - domestic and international provident and pension funds. These entities are deemed to be in a better position than regular investors to judge the fundamentals and prospects of a company.

Tribhovandas Bhimji Zaveri is a well-known and trusted jewellery retailer in India with 14 showrooms in 10 cities across five states, which have a total carpet area of approximately 48,818 sq. ft. The company primarily sells gold and diamond-studded jewellery. It also sells other products, including platinum jewellery and jadau jewellery.

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